TLTE vs. DFEM ETF Comparison

Comparison of FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) to Dimensional Emerging Markets Core Equity 2 ETF (DFEM)

TLTE

FlexShares Morningstar Emerging Markets Factor Tilt Index Fund

TLTE Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Morningstar® Emerging Markets Factor Tilt IndexSM. The fund generally will invest under normal circumstances at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. The underlying index reflects the performance of a selection of equity securities designed to provide broad exposure to the global emerging equities markets, with increased exposure (or a "tilt") to small-capitalization stocks and value stocks.

Grade (RS Rating)

Last Trade

$54.41

Average Daily Volume

12,612

Number of Holdings ^*

56

* may have additional holdings in another (foreign) market

DFEM

Dimensional Emerging Markets Core Equity 2 ETF

DFEM Description

The Portfolio is designed to purchase a broad and diverse group of securities associated with emerging markets, which may include frontier markets (emerging market countries in an earlier stage of development). As a non-fundamental policy, under normal circumstances, the Portfolio will invest at least 80% of its net assets in emerging markets equity investments that are defined in the prospectus as Approved Market securities.

Grade (RS Rating)

Last Trade

$27.28

Average Daily Volume

608,966

Number of Holdings ^*

99

* may have additional holdings in another (foreign) market

Performance

Period	TLTE	DFEM
30 Days	3.23%	3.72%
60 Days	2.95%	3.87%
90 Days	5.51%	7.03%
12 Months	16.86%	17.68%

61 Overlapping Holdings

	Symbol	Grade	Weight in TLTE	Weight in DFEM	Overlap
	ABEV	F	0.06%	0.03%	0.03%
	AKO.A	C	0.01%	0.01%	0.01%
	ASAI	D	0.05%	0.02%	0.02%
	ASAI	D	0.05%	0.04%	0.04%
	BABA	D	1.63%	0.02%	0.02%
	BABA	D	1.63%	1.16%	1.16%
	BAP	C	0.11%	0.04%	0.04%
	BCH	C	0.05%	0.03%	0.03%
	BCH	C	0.05%	0.0%	0.0%
	BGNE	F	0.06%	0.01%	0.01%
	BGNE	F	0.06%	0.0%	0.0%
	BIDU	F	0.26%	0.15%	0.15%
	BIDU	F	0.26%	0.01%	0.01%
	BILI	C	0.02%	0.08%	0.02%
	BRFS	A	0.03%	0.05%	0.03%
	CAR	F	0.01%	0.04%	0.01%
	CHT	D	0.11%	0.04%	0.04%
	CHT	D	0.11%	0.02%	0.02%
	CSAN	D	0.03%	0.0%	0.0%
	CSAN	D	0.03%	0.01%	0.01%
	ERJ	D	0.04%	0.11%	0.04%
	ERJ	D	0.04%	0.11%	0.04%
	GDS	B	0.01%	0.04%	0.01%
	GGB	F	0.05%	0.07%	0.05%
	GGB	F	0.05%	0.01%	0.01%
	HDB	C	0.86%	0.27%	0.27%
	HDB	C	0.86%	0.01%	0.01%
	IBN	A	0.54%	0.16%	0.16%
	IBN	A	0.54%	0.58%	0.54%
	IFS	C	0.01%	0.0%	0.0%
	IMOS	C	0.01%	0.02%	0.01%
	IQ	D	0.01%	0.04%	0.01%
	KB	A	0.24%	0.37%	0.24%
	KB	A	0.24%	0.01%	0.01%
	KEP	D	0.03%	0.02%	0.02%
	KEP	D	0.03%	0.01%	0.01%
	LI	F	0.07%	0.02%	0.02%
	LI	F	0.07%	0.0%	0.0%
	LPL	B	0.03%	0.04%	0.03%
	NIO	F	0.04%	0.03%	0.03%
	PDD	D	0.66%	0.57%	0.57%
	SBSW	D	0.03%	0.02%	0.02%
	SBSW	D	0.03%	0.0%	0.0%
	SGRP	B	0.15%	0.02%	0.02%
	SHG	A	0.18%	0.19%	0.18%
	SHG	A	0.18%	0.04%	0.04%
	SKM	D	0.04%	0.02%	0.02%
	SKM	D	0.04%	0.02%	0.02%
	TCOM	C	0.19%	0.16%	0.16%
	TCOM	C	0.19%	0.01%	0.01%
	TME	B	0.05%	0.04%	0.04%
	TME	B	0.03%	0.04%	0.03%
	UMC	B	0.21%	0.02%	0.02%
	UMC	B	0.21%	0.19%	0.19%
	VALE	D	0.43%	0.28%	0.28%
	VIPS	F	0.05%	0.08%	0.05%
	VIST	B	0.04%	0.02%	0.02%
	WIT	A	0.07%	0.06%	0.06%
	WIT	A	0.07%	0.01%	0.01%
	XPEV	F	0.03%	0.03%	0.03%
	YUMC	F	0.08%	0.14%	0.08%

TLTE Overweight 15 Positions Relative to DFEM

	Symbol	Grade	Weight
	MOMO	B	0.11%
	FINV	C	0.09%
	WB	D	0.09%
	DQ	F	0.09%
	BEKE	C	0.06%
	YMM	D	0.04%
	TAL	D	0.03%
	MNSO	F	0.02%
	BEKE	C	0.02%
	EH	D	0.01%
	RLX	F	0.01%
	HOLI	B	0.01%
	ATHM	D	0.01%
	YY	C	0.01%
	ATAT	B	0.01%

TLTE Underweight 39 Positions Relative to DFEM

	Symbol	Grade	Weight
	INFY	B	-0.21%
	GFI	C	-0.15%
	RDY	A	-0.12%
	CX	F	-0.11%
	HMY	B	-0.08%
	PAC	D	-0.07%
	ASR	D	-0.05%
	PBR	D	-0.03%
	OMAB	F	-0.03%
	FMX	F	-0.03%
	JKS	D	-0.03%
	CIB	C	-0.02%
	KOF	D	-0.02%
	PKX	D	-0.02%
	PHI	C	-0.01%
	SLDB	F	-0.01%
	SHPH	F	-0.01%
	BSAC	C	-0.01%
	VIV	D	-0.01%
	BBD	D	-0.01%
	SBS	C	-0.01%
	GRIN	B	-0.01%
	NTES	D	-0.01%
	SQM	D	-0.01%
	LGHT	C	-0.0%
	UGP	D	-0.0%
	ITUB	D	-0.0%
	SUZ	C	-0.0%
	PDSB	D	-0.0%
	ENIC	C	-0.0%
	MGNX	F	-0.0%
	BAOS	F	-0.0%
	CIG	C	-0.0%
	EBR	D	-0.0%
	CCU	F	-0.0%
	HTHT	F	-0.0%
	ZLAB	F	-0.0%
	BZUN	D	-0.0%
	ZTO	F	-0.0%

TLTE: Top Represented Industries & Keywords

Industries: Internet Content & Information Banks - Regional - Asia Specialty Retail Auto Manufacturers Banks - Regional - Latin America Aerospace & Defense Semiconductors Telecom Services Beverages - Brewers Beverages - Non-Alcoholic Biotechnology Business Services Consumer Electronics Credit Services Data Storage Diversified Industrials Education & Training Services Gold Grocery Stores Industrial Metals & Minerals

Keywords: Bank Banking Investment Banking Transport Advertising Services Currency Games Investment Banking Services Collection Services Commercial Banking Electric Vehicle Electronics Financial Products Nasdaq 100 Online Game Retail Banking Retailing Securitization Social Networking Services Account Management

DFEM: Top Represented Industries & Keywords

Industries: Banks - Regional - Latin America Internet Content & Information Banks - Regional - Asia Biotechnology Specialty Retail Telecom Services Airports & Air Services Auto Manufacturers Beverages - Brewers Drug Manufacturers - Specialty & Generic Gold Utilities - Regulated Electric Information Technology Services Oil & Gas Refining & Marketing Semiconductors Steel Advertising Agencies Aerospace & Defense Beverages - Non-Alcoholic Beverages - Soft Drinks

Keywords: Bank Banking Investment Banking Currency Financial Products Advertising Services Drink Investment Banking Services Natural Gas Telecommunications Beer Broadband Cancer Cash Management Cola Commercial Banking E-Commerce Factoring Internet Access Investment Product